15 facts about sales affecting the e-commerce strategy in 2020
Although e-commerce is still not a huge part of overall retail sales, online shopping is becoming more and more popular. Both among business clients and consumers. In the current situation, when it is recommended to be at home, traders are especially trying to take care of their online sales. If you are concerned about this issue or you just want to learn how to improve your way of working in e-commerce, learn about 15 facts that influence the strategy of conducting online activities in 2020. We present interesting statistics on how and how many people and companies buy online. We also show what trends in e-commerce we can expect in the future!
What percentage is online sales?
Most of this type of research is conducted on the American market. For this reason, information obtained from Smart Insight (Forecast growth in percentage of online retail / Ecommerce sales 2017 to 2023) shows that e-commerce sales in the US currently average 10.5% of total sales. Although the percentage does not seem to be too large, this phenomenon is growing in strength and is really affecting a large number of enterprises.
How many B2B organizations sell online?
As many as 65% of companies from the B2B sector have their own e-commerce platform or plan to launch it by the end of this year. However, it turns out that there is also a large part without any strategy in this area (Gartner, 2019 Strategic Roadmap for Digital Commerce).
What proportion of companies sell their products abroad?
According to the data provided by Visa, currently two-thirds of companies – 65% sell their goods abroad.
What revenues will global retail sales guarantee in 2020?
Economists predict that retail sales will reach 4.2 trillion US at the end of this year (eMarketer, Global Ecommerce 2019).
What amounts do customers spend shopping online?
Data indicates that consumers spent $ 28.5 billion online during Cyber Week in 2019. The mentioned period is five days between Thanksgiving in the USA and Cyber Monday, which is the day of discounts during online sales. This is a good time for an overall estimate of the money users spend on the internet. Last year’s Cyber Monday saw a 17.7% increase in sales over the previous year. A record $ 10.8 billion (38%) of total online spending came from mobile devices (Adobe, Retailers With ‘Buy Online, Pick Up In Store’ Fulfillment Option Won Cyber Week 2019).
How much will online transactions be worth in the coming years?
It is estimated that B2B e-commerce transactions will reach $ 1.5 trillion by 2021. However, this will only be 13% of total B2B sales this year (Forrester).
Are customers interested in voice services when shopping online?
Almost half of the respondents, as many as 44% of those surveyed out of a pool of 10,000 people completing the questionnaire, declared the likelihood of using voice services for at least part of their shopping journey in the next three years (Amazon Pay, Voice Commerce: Passing Fad Or Opportunity?). This is a tip that you should consider this type of solution when planning the development of your online store.
Will online sales outrun traditional sales?
It turns out that yes! Global e-commerce will outperform global traditional sales by 2036, according to PayPal.
Is online sales conducive to charity?
Again, according to PayPal data collected over a designated period, over 1 million customers from 184 markets donated approximately $ 106 million to charity. This demonstrates the great desire to transfer funds to charity online.
Are customers satisfied with online shopping?
It turns out that sixty percent of online shoppers in the US are dissatisfied with online shopping, but during the holidays! This represents an increase of four percentage points over the previous year, which is twice as much as just four years ago (Pitney Bowes). It can therefore be concluded that online customers have become much more demanding and expect higher quality online services than before.
Do customers report their dissatisfaction with online shopping?
Nearly nine out of ten consumers said they would definitely make a complaint or take any other action that could damage the brand’s reputation because of poor purchasing experience (Pitney Bowes). It is worth to treat it as a warning and make every effort to provide your customers with the best experience and satisfaction with the purchased products. Thanks to this both sides will be satisfied.
Do advertising activities in e-commerce really translate into sales?
The answer, of course, is yes. The average conversion rate in e-commerce is 5% from the advertising page to the shopping cart page and 1.4% from the advertising page for sale (Style, Defining shopable content).
Do customers use the BOPIS option?
BOPIS (buy online, pick up in store) means buying online and then picking it up in the store. It turns out that in Cyber Week 2019 this type of opportunity increased by 47.8% compared to the previous year. This means that sellers offering the option of picking up an order in a stationary store achieved a 20% higher chance of customers buying from them than sellers not offering such an opportunity (Adobe, Retailers With ‘Buy Online, Pick Up In Store’ Fulfillment Option Won Cyber Week 2019).
Are salespeople interested in developing online sales technology?
Yes, and the vast majority. Almost 86% of online sellers have declared that they will invest in expanding their e-commerce experience over the next year (Accenture, Dierentiating delivery: How to win the eCommerce battle Accenture eTailers research report).
Is it worth to bet on omnichannel?
In many different industries, as many as 69% of customers say that they care about omnichannel and multichannel services. What’s more, customers using multichannels usually bring entrepreneurs about 15% more profit than customers only using digital-only services (Accenture, On the verge B2B Digital Commerce is at an Inflection Point).
As you can see from the presented list, online sales are becoming the subject of more and more discussions. This applies to both traders and customers. The modern customer has become accustomed to the individual treatment of his needs and expects tailored offers. From the seller’s perspective, it is worth making every effort to meet the expectations of its customers and focus on the highest quality service. This will help to please both sides, because in the end a satisfied and loyal customer is the success of the entire enterprise!
eCommerce marketing is the process of promoting your online store and products through a variety of marketing channels. Check more here: https://www.ecommercecompanies.com/ecommerce-marketing-strategies/